Emma Roth is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO.
Target and Best Buy say Trump’s tariffs on Mexico, Canada, and China could raise prices in their stores as soon as this week. During an interview with CNBC, Target CEO Brian Cornell said consumers will “likely see prices increase over the next couple of days,” while Best Buy CEO Corie Barry similarly told investors that more expensive prices are “highly likely.”
Cornell told CNBC that half of Target’s goods come from the United States, but the company depends on Mexico for “a significant amount” of fruits and vegetables during winter, potentially leading to
12 Comments
Sabinus
Any bets on how this will be justified by Trump voters?
I'm thinking at first it'll be 'playing hardball negotiating tactic' and when it looks like the tariffs are here to stay 'paying more is patriotic'.
vachina
Reminder to decouple from the US, because they’re gonna export this tariff (ie pass the cost) to the rest of the world.
darig
[dead]
ourmandave
But they're already talking about walking it back or lowering them tomorrow (Wed).
All these stupid sky-is-falling headlines that become forgotten in a couple days when it's on to the next outrage moment.
Like the whole Zelensky/Trump white house blow up is like sitting in on couples therapy. The deal is off! No, it's back on! It's tiresome.
Edit: I'm not pro Trump or trying to defend the fuckery. I'm just sick of Trump headlines every day. But pls, do continue the down votes.
captainkrtek
Sure miss the days where there wasn’t headline generating chaos from the White House resulting in market volatility. Make Government Boring Again.
aninteger
I guess it's time to print out those "I did this!" stickers of Trump and put them next to the price tags.
declan_roberts
I don't know if tariffs are the right answer but I want so much less Chinese junk in this country. We are absolutely overflowing with low quality junk.
trhway
other thing which may happen is that businesses would start to behave like the ones in say Russia and the likes – utilizing long opaque subsidiaries and shell corp chains, some being just a paperwork, to "manage" the tariffs . The double Dutch would look like a child play. Once such [quasi]corruption starts it would be pretty hard to wean companies off it if/when things get back normal.
aussieguy1234
What's the impact here on inflation, by extension interest rates and funding available to startups?
quelup
Honest question – can you not get these products from other stores or do all of them source products from Mexico and China? If so, it does seem like DOGE and other price saving initiatives will be closer to a net 0.
tombert
Who would have thought that increasing the price of goods will lead to higher prices?
I'm not necessarily against tariffs, but I think it's idiotic to think that raising the price is going to somehow lower grocery prices.
anthuswilliams
I'm no fan of tariffs, but oh please. Last time their prices went up because of COVID and because of supply chain disruptions. Now they are going up because of tariffs. All of their earnings calls are filled with analyses of their "pricing power" i.e. the degree to which they can pass on these costs to customers. But when the costs decline, they are happy to keep the prices inflated and pocket the profits.